A guide to making your job as landlord easier, Buying investment properties, Home letting tips
Making Your Job as Landlord Easier Guide
4 May 2023
Being a landlord sounds like a great job. After all, you simply rent out a place for money and that’s it, right? While this may technically be the case, there’s a lot more to being a landlord than just that, and the truth is that if you don’t work efficiently, being a landlord can end up feeling like a full-time job.
That’s why you should be doing everything you can to make your job as a landlord easier, and this post is here to share how you can do that.
A Guide to Making Your Job as Landlord Easier
Hire other people to help you
Most people decide to be landlords so that they can earn a passive income stream, which means you should be putting as little time and effort into it as possible.
However, there are loads of things to do when you are a landlord, and if you already have a job, it can be hard to juggle everything. Luckily, there’s an easy solution: get a property manager. This way, someone else will be doing a lot of the hard work for you, giving you more free time. Check out this condo rental property management in Scarborough to learn more.
Keep a detailed log of everything
You should also keep track of everything relating to your business. Don’t delete any messages or emails from the tenants, as you may need to refer back to them in the future.
You should also be very strict about keeping track of your rental’s finances such as your income and expenses. As mentioned, your rental property is essentially a business, so you might want to look into a bookkeeping system, especially if you have multiple rental properties.
Renovate the place beforehand
It may seem unnecessary to renovate your rental property before the tenants move in, but the truth is that it’s much better to do this than to have to regularly try and sort out small issues.
Instead, you should try to get the property in good shape before anyone moves in, to hopefully minimize how many complaints you get down the line.
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